Analysts Offer Predictions for Sweetgreen FY2024 Earnings

Sweetgreen, Inc. (NYSE:SG) – Equities research analysts at KeyCorp issued their FY2024 earnings per share (EPS) estimates for Sweetgreen in a note issued to investors on Tuesday, December 10th. KeyCorp analyst E. Gonzalez anticipates that the company will post earnings of ($0.79) per share for the year. KeyCorp currently has a “Sector Weight” rating on the stock. The consensus estimate for Sweetgreen’s current full-year earnings is ($0.73) per share. KeyCorp also issued estimates for Sweetgreen’s Q4 2024 earnings at ($0.25) EPS, Q1 2025 earnings at ($0.18) EPS, Q2 2025 earnings at ($0.07) EPS, Q3 2025 earnings at ($0.13) EPS, Q4 2025 earnings at ($0.20) EPS, FY2025 earnings at ($0.59) EPS, Q1 2026 earnings at ($0.14) EPS, Q2 2026 earnings at $0.03 EPS, Q3 2026 earnings at ($0.07) EPS and FY2026 earnings at ($0.33) EPS.

Several other equities analysts also recently weighed in on the company. UBS Group lifted their target price on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. The Goldman Sachs Group reiterated a “neutral” rating and set a $40.00 target price on shares of Sweetgreen in a research report on Friday, November 8th. Piper Sandler reiterated a “neutral” rating and set a $39.00 target price (up from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. Bank of America lifted their target price on Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Finally, Oppenheimer lifted their target price on Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sweetgreen has an average rating of “Moderate Buy” and an average price target of $39.80.

Sweetgreen Stock Performance

NYSE SG opened at $34.47 on Friday. The company has a market capitalization of $3.99 billion, a PE ratio of -44.19 and a beta of 2.32. The business’s fifty day moving average is $38.37 and its 200 day moving average is $33.38. Sweetgreen has a fifty-two week low of $9.66 and a fifty-two week high of $45.12.

Insider Activity

In related news, CEO Jonathan Neman sold 1,010 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $40.01, for a total value of $40,410.10. Following the sale, the chief executive officer now directly owns 1,930,228 shares in the company, valued at approximately $77,228,422.28. The trade was a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nathaniel Ru sold 1,263 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $40.01, for a total value of $50,532.63. Following the completion of the sale, the insider now owns 1,952,129 shares in the company, valued at $78,104,681.29. This represents a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 470,639 shares of company stock worth $18,379,124 over the last ninety days. Corporate insiders own 21.52% of the company’s stock.

Institutional Investors Weigh In On Sweetgreen

Hedge funds have recently made changes to their positions in the company. Lord Abbett & CO. LLC increased its stake in Sweetgreen by 13.3% during the third quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company’s stock worth $82,032,000 after acquiring an additional 272,340 shares during the last quarter. Franklin Resources Inc. increased its stake in Sweetgreen by 1,399.0% during the third quarter. Franklin Resources Inc. now owns 111,074 shares of the company’s stock worth $4,365,000 after acquiring an additional 103,664 shares during the last quarter. Tidal Investments LLC increased its stake in Sweetgreen by 848.2% during the third quarter. Tidal Investments LLC now owns 270,141 shares of the company’s stock worth $9,576,000 after acquiring an additional 241,652 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in Sweetgreen by 0.6% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 311,630 shares of the company’s stock worth $11,048,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Sweetgreen by 5.4% during the third quarter. Geode Capital Management LLC now owns 2,249,409 shares of the company’s stock worth $79,757,000 after acquiring an additional 116,243 shares during the last quarter. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

About Sweetgreen

Sweetgreen, Inc, together with its subsidiaries, operates fast food restaurants serving healthy foods at scale in the United States. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that do not have an expiration date and can be redeemed. The company was founded in 2006 and is headquartered in Los Angeles, California.